Legal development

Spotlight On Fintech Fasset

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    Welcome to the Ashurst Fintech Spotlight Series 2022, we will cover companies that were part of our Fintech Legal Labs Cohort and other promising fintech companies.

    We are delighted to introduce one of our 2022 Cohort Fasset as a spotlighted company in this series. 

    If you are interested in suggesting a company to be covered under this series or are interested in meeting or finding out more about any of the companies, we are featuring as part of this series please do not hesitate to contact us.

    Fasset – About the Company

    Fasset is pioneering web3 technologies to grow emerging market economies, connect the global diaspora to their global and local communities, and drive adoption of digital assets for the next billion. Fasset was founded because they saw a way to make finance fairer and more sustainable. Better for the communities they care about, and for the world.

    Opening access to financial opportunity and digital asset ownership is the fastest way to raise the living standard for the next billion people. For the first time, technology enables everyone to own a piece of an asset so that their capital can also work for them in parallel to their labor, enabling a transfer of wealth and the creation of a new middle-class.

    Key Advantages 

    Fasset is named as such because they are building multifaceted use cases that cryptocurrency can solve and mobilising for people to own assets:

    • Not designed for speculation: Traditional exchanges are driven by increasing trading volumes, leading to financial engineering, leverage, and debt-fueled speculative frenzy;
    • Solving for real-world use cases: They are focused on solving real-world use cases, using cryptocurrency rails in a Shari'ah compliant manner;
    • Enabling wealth creation: Ultimately, they are building a leading crypto super-app to increase financial opportunity, enabling asset ownership for people around the world, at a scale.

    Fasset are targeting almost untapped markets where there is currently little to no competition in place.

    As mentioned above, their business model within digital assets is centered around real-world tangible use cases beyond crypto buy/sell speculation, which is the existing business model for 90-95% of exchanges operating today. Their plan is to leverage blockchain technology to solve challenges such as cross-border remittances, day-to-day payments, salary payments, currency devaluation, retirement savings, borrow/lending, among others.
     
    *Ashurst LLP does not endorse or recommend any particular product or investment opportunity.

    Key Contacts

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